Views on Life & on Equity Investing

Wonder, Wealth & Abundance

Most expensive Pizza

with one comment

I am not long / short bitcoin nor believe in it. Read something interesting.

On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. That translates to 100 Million USD at CMP of 10,000 USD / Bitcoin. Oops. In 2010 BTC was 0.01 USD/1 cent.

In 2009 Bitcoin had no price. Users were mainly cryptography fans who were sending bitcoins for hobby purposes representing low or no value. In March 2010, user “SmokeTooMuch” auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found.

Here we are poor souls searching 100 companies for one that is worth 50 cents on a dollar, and there was a deal worth 100 Million USD going for 50$ or a pizza.

Source: https://en.wikipedia.org/wiki/History_of_bitcoin

 

 

Written by amitdipsite

November 29, 2017 at 10:27 am

Posted in Uncategorized

One Response

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  1. Hi Amit,

    This is once in a 100+ year craze/bubble in terms of its run n size (a statement rather and not a research fact at the moment). Something traditional investing model can’t n couldn’t predict imho. Not to say it might not burst(till then i will enjoy the ride) but it will make some amazing case studies n research/contemplation in future.

    Regards
    Shaishav

    Shaishav

    November 29, 2017 at 1:15 pm


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